Where does the interest go if you pay off a loan early?

Let’s learn where does the interest go if you pay off a loan early. The most accurate or helpful solution is served by Yahoo! Answers.

There are ten answers to this question.

Best solution

If interest rates go up due to Pres and you have no collateral loan from credit card and you cannot pay what h?

what happens in so far as - is your property at risk? - loose credit forever? taken to court ? -hounded ? what happens?

Answer:

I'm sorry, but your question is very confusing. Interest rates have nothing to do with any default you...

LLOYD P at Yahoo! Answers Mark as irrelevant Marked as irrelevant Undo

Other solutions

I need an immediate loan of $2500 - $5000 what is the best site to go to without having to pay 225.9 interest?

I want an installment loan not a payday loan and I do not want to pay an exorbitant interest rate.

Answer:

go to prosper.com I have looked into it and you can borrow up to $25000.

mikamor at Yahoo! Answers Mark as irrelevant Marked as irrelevant Undo

Do anyone know where i can go to get a poor credit loan? no smart *** answers!!! i will pay whatever interest?

Answer:

if they offer you a loan here on yahoo answers they are scam artist banks do not use MSN LIVE email...

Antuan at Yahoo! Answers Mark as irrelevant Marked as irrelevant Undo

If I pay off part of a interest-only 10/20 loan before 10yrs, will my monthly payment then go down? Or is re-amortizing a 30-yr fixed better? (I'm approved for a cash-out refi. Cash will buy property zoned multi-family worth 2x loan amt.)

Answer:

Well, I was thinking about paying off the cash-out half of the new refi when I sell the property...

Zepherine D at Answerbag.com Mark as irrelevant Marked as irrelevant Undo

I have about $21K on my Auto Loan and about 4 more years to go. Chase Bank holds my Auto Loan. I used their pay off quote calculators and it shows that I will have to shell out apprx. $20.5k. I am not sure (or maybe not) if this includes Principal and Interest. Am I missing any obvious gotchas?

Answer:

Interest is typically calculated overnight on per day basis, but displayed / updated on a monthly cycle...

Patanjali Hardikar at Quora Mark as irrelevant Marked as irrelevant Undo

Would someone loan me $2000 to pay off a debt to a person? I would pay back with interest and make monthly payments. Banks just go by your credit score, but I'm giving my word, which I think is more valueable.

Answer:

Why don't you just tell the person you already owe the money to that you will make monthly payments...

Samantha at Answerbag.com Mark as irrelevant Marked as irrelevant Undo

Can I get a lower interest loan from another bank to pay off a high interest loan I got for a ATV?

Ok, I purchased a ATV for $6300 with financing through Retail Services. It is $99 a month minimum with a 17.9% interest rate. I can only pay close to minimum on it, so the interest eats me alive. In the past 2 years I have only paid off $1500 of the...

Answer:

Most likely not. The best rate you can usually get for such a purchase is when it is new. Your ATV is...

Brandon W at Yahoo! Answers Mark as irrelevant Marked as irrelevant Undo

What's better for credit score, paying car loan off early or letting it go to full maturity?

I have a car loan that I owe $2700 on and there's only 10 payments left. It's a zero interest loan so I'm not paying it off to save on interest, my credit card balances are extremely low and I have plenty of cash to pay the car loan off. Now my question...

Answer:

Your credit score will not improve with a paid off loan. But.. a future lender will see less debt with...

Mechanic... at Yahoo! Answers Mark as irrelevant Marked as irrelevant Undo

Car loan question..Can a car loan force me to pay the full term interest?

I usually pay about $100 over the minimum payment, and the minimum payment seems to change every time. Last month, I payed close to the maximum payment ( which I didn't know would exist) at $700. This month, the maximum payment allowed is only $540....

Answer:

Chris is right about the pre-payment penalty. Read your loan agreement carefully and see if you have...

Steven at Yahoo! Answers Mark as irrelevant Marked as irrelevant Undo

How do I get a loan to pay off some bills on my credit report if I can not get a loan for the bills on my cred

I get turned down for loans because of the things on my credit report. when I want a loan to pay off everything on my report. I make a little over $3000 a month and could pay the loan off in installments. And the reason I have just not paid off the bills...

Answer:

Can u refinance a home? Home equity? My b/f has the same problem. How is your fico score? if it's high...

ltiaska at Yahoo! Answers Mark as irrelevant Marked as irrelevant Undo

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